I would look to take on SPY put protection via the 123 Dec puts. I would most likely take on the put protection on Monday, 15 min or so after the open or if the SP500 sees 1230 (or the 320SMA).
opportunity loss' trades, I would be taking on a light protection now, and add on Monday as indicated above. Then wait for the position (DIS, DD, ETN, SLB, SU, POT, IBM etc) I would want to get into (as highlighted in the post below).
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